24 Dec 2021
VEON concludes RUB 90 billion (c.USD 1.2 billion) bank financing Amsterdam, 24 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that VEON Finance Ireland Designated Activity Company., a subsidiary of VEON Ltd. (NASDAQ, Euronext Amsterdam: VEON) has successfully concluded bank financing of RUB 90 billion (approximately USD 1,215 million1) guaranteed by VEON Holdings B.V..
VEON concluded two bilateral loan facilities of RUB 45bn each with Sberbank and Alfa Bank.
The RUB 45 billion Alfa Bank facility has a 5-year amortising tenor with a RUB 30 billion fixed rate tranche and a RUB 15 billion floating rate tranche
The RUB 45 billion Sberbank facility has a 5-year amortising tenor and is fully floating
The proceeds from both facilities will be used for general corporate purposes, including the financing of intercompany loans to PJSC VimpelCom.
Serkan Okandan, VEON's Chief Financial Officer, said: These new facilities show the continued good progress in our efforts to improve the Group's capital structure and extend the maturity of our debt portfolio.
1Based on USD/RUB=73.92
Disclaimer
This release contains forward-looking statements, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding VEON's financial position and capital structure. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services. For more information visit: www.veon.com.
Contact information
VEON
Investor Relations
Nik Kershaw
ir@veon.com
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